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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: quote 007 who wrote (25083)	12/25/2000 5:39:33 PM
From: Atin	Read Replies (1) \| Respond to of 34822

On a 5 minute chart, say you were in a column of Xs with the top at 50. QPnf will continuously look at the data stream and see if you hit 47 (on a 1 point/3 box reversal chart) and if you do, it will draw a column of Os. If at the end of the 5 minute period, a new high hasn't been made, the column will "stick" and from then on it will start trying to extend the column of Os down in the same fashion. I've been told that pit traders in the commidity markets use intraday p&f charts. And daytrading with has worked pretty well for me -- when I've got the time to actually day trade, which I haven't had a lot of. Try it out on paper and see for yourself whether you're suited to it. If you have a QCharts account, QPnf is free. -Atin